1. What is the defi nition of current liabilities? Why is it important to distinguish between current and long-term liabilities? 2. Most fi rms attempt to pay their accounts payable within the...

1. What is the defi nition of current liabilities? Why is it important to distinguish between current and long-term liabilities?

2. Most fi rms attempt to pay their accounts payable within the discount period to take advantage of the discount. Why is that normally a sound fi nancial move?

May 26, 2022